YEREVAN, January 18. /ARKA/. No dollar-dram exchange transactions were effected today at NASDAQ OMX Armenia stock exchange because of high supplies of dollars this week, Mikael Verdyan, analyst at FOREX CLUB, told ARKA News Agency.
“One of the factors behind high supply was the central bank’s interventions, which made stock market players refrain from buying and selling currencies,” he said.
The little difference between selling and buying prices – 386.51 drams and 387.75 drams – came as the second factor that deterred dollar sellers from effecting exchange deals.
“Today sellers, fearing that the U.S. dollar will keep strengthening, refrained from selling dollars at low prices, and participants of today’s auction failed to reach an accord,” Verdyan said.
He predicted that the dollar will fluctuate between 386 and 387 drams per one dollar this week, and in the newt two or three weeks the dram will weaken and the dollar will trade at 385 drams.
The latest foreign exchange deal was effected at the stock exchange on Tuesday, when one dollar was traded at 388.3 drams.
On January 18, the Central Bank of Armenia downed the dollar by 0.57 points to 388.25 drams per one dollar.-0—
